National Bank of Egypt (NBE) and Banque Misr will retain their FY15-16 earnings, in order to strengthen their capital base, according to banking sources. The banks are expected to hold their AGMs by end of February. NBE reported net profit of EGP5.8bn in the second half ending in June 2016. NBE’s total loans reached EGP177bn in June 2016, up 14% Y-o-Y, with the SME book up 16% Y-o-Y to EGP19.2bn (accounting for 11% of the total loan book), of which EGP2.7bn were dedicated to micro projects. NBE’s paid-in capital rose to EGP15bn in June 2016, up from EGP9bn in June 2015, with the authorised capital at EGP30bn in June 2016, up from EGP20bn in June 2015. Banque Misr’s total deposits stood at EGP341bn in June 2016, an increase of 18% Y-o-Y compared to EGP290bn in June 2015. Banque Misr had a paid-in capital of EGP15bn and authorised capital of EGP30bn in June 2016. (Al Shorouk)